At 0.25 percent, 1 in 400 taxpayers might be audited while at 0.9 percent, that number would climb catastrophically to 1 in 111. That’s still a range, but it’s a markedly smaller one.
And Americans will be four times more likely to be audited after the Biden-Manchin bill.
Taxpayers earning between $75,000 and $100,000 had their audit rates drop 30%. Those making from $200,000 to $500,000 had theirs fall 72%.
A 72% increase in middle class audits would then be well within “historical norms”.
And that’s just the beginning. Read more…